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Visa Reports Earnings Gains, Increased Payments Volume
Thursday, October 27, 11:54 AM ET

Credit cards payments processor Visa (NYSE:V) reported an increase in fiscal fourth quarter profits after the close of trading late yesterday.

Earnings rose to $880 million, or $1.27 per share, from $774 million, or $1.06 per share, last year.

Revenue grew 13%, to $2.38 billion.

Results were just ahead of analyst estimates.

Visa said payments volume growth rose 13% in the third quarter, while total processed transactions grew by 9%.

Rival MasterCard (NYSE:MA), which reports results next week, while American Express (NYSE:AXP), which actually extends credit in addition to issuing cards and processing payments, reported an increase in earnings last week.

For MarketNewsVideo.com, I'm Kristin Bianco.

Visa Reports Earnings Gains, Increased Payments Volume picture
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